a body performs no work. Does it implies the body possesses no energy.

No it is not so. For example, a body moving around the earth have some kinetic energy but work done by the gravitational force is zero because at every point during the motion of the body velocity of the body is always perpendicular to gravitational force. As work done by the gravitational force is zero this means that kinetic energy of the body does not change by the effect of gravitational force.Here kinetic energy of the body remains constant if the body is moving with a constant velocity.